印度《The Print》网站19日报道称，德国制定新的安全战略，为太空战争做好准备。路透社认为，德国 誓言在全球太空竞赛中捍卫自身利益。《芬兰日报》19日称，德国公布太空安全战略，重点在于威慑。 美国兰德公司网站称，德国国防部宣布计划到2030年投入350亿欧元，用于建设德国的国防航天能力。 据德新社20日报道，当地时间19日，德国外长瓦德富尔表示："从巡航导弹或无人机的通信控制，到重 要战略原材料的开发利用，太空主导权之争正在进行。德国保护其在太空的利益尤为重要。" 【环球时报驻德国特约记者 青木】当地时间19日，德国国防部和外交部在柏林发布了德国政府的首个 太空安全战略。瑞士《新苏黎世报》20日报道称，新战略的目标是有效保护太空卫星和通信技术，同时 也力求防止太空军备竞赛。 新战略称："太空早已不再是和平研究的专属领域。乌克兰战争表明，太空也成为冲突的战场。"新战略 确定了三个战略行动领域，包括识别危险和威胁、促进国际合作以及构建可持续的太空秩序。具体来 说，德国计划在太空领域建立自身的军事能力。德国也计划研发自己的卫星，用于航天器燃料补给等。 德国政府还计划加强参与现有的欧盟、北约和美国的相关项目等。 ...

Core Insights - In the first half of the year, the China Council for the Promotion of International Trade approved 1,418 overseas economic and trade exhibition projects, covering an exhibition area of 826,000 square meters [1] - A total of 54 organizing units have implemented exhibition projects in 44 countries and regions, with an actual exhibition area of 382,000 square meters and over 23,000 participating enterprises [1] - There is a notable increase in participation from emerging markets, with the number of Chinese exhibitors in ASEAN and Latin America accounting for 39.8% of the total, an increase of 8.5 percentage points compared to the same period in 2024 [1] Industry Trends - Emerging industries are showing a sustained increase in overseas exhibition participation, particularly in fields such as electronic information, artificial intelligence, green low-carbon technology, and intelligent manufacturing [1] - Chinese enterprises showcased their independent innovation achievements in key international technology exhibitions, contributing to the expansion of exports of high-tech and high-value-added products [1] - At the European International Smart Energy Exhibition, the number of Chinese participating enterprises increased to 850, with organizers and professional visitors expressing admiration for China's international leadership in the new energy sector [1] Overall Performance - The overall operation of overseas exhibition work in the first half of the year has been stable, with a more diverse range of participating industries, continuous expansion of participating regions, and steady improvement in the quality of participating enterprises [2] - There has been a significant enhancement in the sense of gain for enterprises involved in these exhibitions [2]

Core Insights - The China Council for the Promotion of International Trade (CCPIT) reported a 13.31% year-on-year increase in the issuance of various certificates, totaling 3.8887 million from January to June 2023, indicating resilience and vitality in China's foreign trade despite challenges [1] - The RCEP certificates issued amounted to $4.415 billion, with a 27.93% increase in value and a 27.70% increase in the number of certificates issued, showcasing the benefits of free trade agreements for enterprises [1] - The CCPIT has facilitated the participation of over 23,000 enterprises in international exhibitions, with a total exhibition area of 382,000 square meters, reflecting a strong push for enterprises to explore diverse international markets [3] Trade Policy Implementation - The CCPIT has actively promoted the implementation of policies to stabilize foreign trade, assisting enterprises in securing orders and expanding markets [2] - The organization has approved 1,418 international trade exhibition projects, with a planned exhibition area of 826,000 square meters, demonstrating a commitment to enhancing international trade engagement [3] Market Expansion - There is a notable trend of enterprises expanding into emerging markets such as ASEAN, the Middle East, and Latin America, with participation from these regions increasing by 8.5 percentage points compared to the previous year [4] - The Brazilian International Auto Parts Exhibition attracted over 300 Chinese enterprises, highlighting the growing presence of Chinese companies in international trade events [4] Industry Focus - The CCPIT has emphasized the participation of enterprises in emerging industries such as new energy and electronic information, with 850 Chinese companies attending the European International Smart Energy Exhibition, showcasing China's advancements in these sectors [5] - The organization aims to enhance the quality and diversity of participating enterprises, contributing to the export of high-tech and high-value-added products [5] Legal Support for Enterprises - The CCPIT has seen a 16.43% increase in foreign-related disputes, with 404 cases accepted in the first half of the year, indicating a growing need for legal support in international trade [6] - The organization has provided extensive legal services, including handling over 43,000 commercial mediation cases and answering 18,500 inquiries through its legal platform [6]

Core Insights - SPX reported strong Q2 2025 results with adjusted EPS of $1.65, exceeding analyst estimates of $1.45, and GAAP revenue of $552.4 million, surpassing expectations of $546.69 million, reflecting double-digit growth year-over-year [1][2] - The company has raised its full-year 2025 guidance, anticipating revenue between $2.225 to $2.275 billion and adjusted EBITDA of $485 to $510 million, driven by strong demand and operational momentum [9] Financial Performance - Adjusted EPS increased by 16.2% year-over-year from $1.42 in Q2 2024 to $1.65 in Q2 2025 [2] - GAAP revenue rose by 10.2% from $501.3 million in Q2 2024 to $552.4 million in Q2 2025 [2] - Adjusted EBITDA improved to $126.7 million, reflecting a 16.4% increase from $108.9 million in Q2 2024 [2] - Adjusted free cash flow decreased by 35.9% from $57.9 million in Q2 2024 to $37.1 million in Q2 2025 [2] Segment Performance - HVAC segment revenue grew by 5.7% to $376.7 million, while detection and measurement revenue surged by 21.3% to $175.7 million, with 14.9% of this growth attributed to the acquisition of KTS [2][5] - Segment income margin for HVAC was 25.4%, up nearly two percentage points from the previous year, while detection and measurement margin slipped to 22.8% [6] Strategic Focus - SPX is concentrating on product innovation and expansion in high-growth markets, particularly in HVAC solutions for data centers and green buildings [4] - The company is integrating recent acquisitions, Sigma & Omega and KTS, to enhance its product offerings and market reach [6] Guidance and Future Outlook - Full-year 2025 guidance includes HVAC revenue of $1.50–$1.53 billion and detection and measurement revenue of $725–745 million, with segment income margins projected at 24.75% and 23.0%, respectively [9] - Management emphasized the importance of monitoring organic growth trends in HVAC and successful integration of KTS in detection and measurement [10]

今年以来，中国贸促会组织出访团组257个、涉及55个国家和地区；全国贸促系统上半年累计签发原产 地证书等各类证书388.87万份，同比增长13.31%……中国贸促会31日发布的最新数据表明，面对困难和 压力，中国贸促会发挥全国地方和行业贸促机构作用，尽一切努力为企业抢订单、拓市场提供帮助。 境外展览是企业获取外贸订单的重要途径。中国贸促会新闻发言人王琳洁在当天举行的例行新闻发布会 上介绍，今年第一季度，美国是中国企业第一大境外参展目的国，有近2000家中国企业赴美参展，展出 净面积27178平方米，同比增长2.3%；第二季度，东盟、拉美等新兴市场参展企业数合计占比39.8%， 较2024年同期提升8.5个百分点。 此外，中国贸促会积极遴选组织电子信息、人工智能、绿色低碳和智能制造等领域优秀中国企业，在国 际重要科技展会上集中亮相，充分展示我国在智能终端、通信技术、机器人等领域的自主创新成果，为 高技术、高附加值产品扩大出口注入新动能。 王琳洁表示，总体看，今年上半年出国展览工作运行平稳，参展行业更加多元，参展区域持续拓展，参 展企业质量稳步提升，企业获得感显著增强。 "中美关系希望在人民，基础在民间。"王琳洁 ...

Group 1 - The global trade friction index for May was reported at 105, indicating a high level of trade tensions, but there was a decrease in the amount involved by 13% year-on-year and 37.8% month-on-month due to various factors including the suspension of some tariff measures by the US [1] - In the first half of 2025, the total number of certificates issued by the national trade promotion system reached 3.8887 million, a year-on-year increase of 13.31%, with non-preferential certificates amounting to $171.182 billion and preferential certificates amounting to $48.197 billion, showing significant growth in both categories [3] - The electronic industry has the highest trade friction index among 13 major industries, with the US leading in trade friction measures, including tariffs and import/export restrictions, contributing to the sustained high level of the global trade friction index [4][5] Group 2 - The trade friction index concerning China from 19 countries was reported at 105, with the US having the highest index. The amount involved in trade friction measures decreased by 57.8% year-on-year and 13.5% month-on-month, attributed to positive market reactions following the US-China Geneva trade talks [5] - Over 23,000 enterprises participated in overseas exhibitions in the first half of the year, with a total of 1,418 exhibition projects approved, indicating a trend towards market diversification and structural optimization [6] - The interest in overseas exhibitions for emerging industries such as new energy and electronic information has increased, with 850 Chinese enterprises participating in the European International Smart Energy Exhibition, showcasing China's advancements in high-tech and high-value-added products [7]